Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-05-28
THE IMPROVED CROPS.
FALSE REPORTS CONrRADICTED-GOOD AND
IMPORTANT NEWS.
Financial Prospects Dependent Upon Gigantic Spec
ulaton-Ths Treasury Receipts Affecting the
Marksts-FOrsign OOmmsrce-Ths
General State Of Trade.

General State Of Trade.
New YORK, May or. G. Dun x
Co. 8 weekly trade review says: The most
important news of the week is also the
best-that crop prospects have decidedly
improved. In view of great speculations
in wheat and cotton, and false reports care
fully circulated by interested parties, it is
of service to know that our own agents tel
egraph from Wisconsin, 'local rains have
helped the agricultural districts" from
Minnesota, "rains throughout the North
west very materially improve crop pros
pects;" from Kansas City, prospects ex-
cellent for exceptionally large crops; recent
copious rains of great benefit" from New
Orleans, crop prospects generally good,
and these are samples Of favorable dis
patches from nearly all quarters. The
fear of injury thus far seems satisfactorily
removed, and if harm to wheat or cotton
is 10 come, it must be from climate lntiu-
ences in the future.
This good news for the whole country is
DISHEARTENING,
however, when financial prospects have
come to depend upon the success Of gigantic
speculations for an advance in prices OF
products The financial future is also al
iccted 10y large receipts of the Treasury
amounting for ten months and twenty
days to S3l, ,Gl2, S67 more than the re-
ceipts for the same part of the previous
year. At the same rate, the Treasury
must take from the market n very large
sum every month, after the last call for .
per cents. natures July lst. Washington
dispatches say that the administration will
purchase bonds with great reluctance, II
ut all.
The last statement of New York banks
showed increase of loans and reserves be-
cause Mr.. Manning's new bank was for
the first time included, but the drain of
money to Chicago to meet the needs OF
speculation still continues, the return to
that point from the interior being retarded
hy real estate and other activities eNten-
sively prevailing.
FOREIGN COMMERCE
does not not improve. April imports ex-
ceed the exports by Sl5, ,973, ,975, an excess
e0ualled in one month of 1882 after a par
tial failure of crops, and in no month since
1872. New York exports to May II are Z
per cent below those of last year with i'm
ports exceeding those of last year by l7.3
percent, which would loreshadOw an excess
OF about $l4,0OO,000 in imports this
month.
The prevailing speculatiOns, rather than
the Interstate act cause declines i'll ex-
ports, for shipments of grain by lake and
rail are made without regard to local rail
rates.
THE INTERSTATE COMMISSION
has not revoked its order suspending, but
all information tends to the belief that it
will do 80, ami points to a rigid enforce
ment of the act. Much complaint is
made even now that the rate for dis
tance is not everywhere enforced, of the
transfer of trade from large to smaller
towns, and from Eastern to interior cities.
The great number of suits commenced and
complaints filed Indicate that the costs OF
transportation will he increased. rather
than diminished Earnings are still large
and encouraging, but war of rates i'll the
Northwest results from milling in trans
it" contracts issued by ST Paul and other
roads, and the competitor of the Canadian
and Yater routes is felt more severely every
week.
GENERAL TRADE.
Accounts from nearly all quarters are
decidedly favorable. At Philadelphia,
trade is languid and there is some com
plaint OF slow collections; mt New Orleans,
money is rather tighter, and at Cincinnati
collections are fair, with room for improve,
mcnt, river business good
In the iron trade, PittSburg hopes tC
see many banked" furnaces set at work
again by a reduction in the price of coke,
and the termination of the strike. 1t Is
also believed at Detroit that the strike Oi
the stove moulders will end this week and
| work he resumed Monday Better trade
| in tobacco is noted at CINCINNATI,
and the real estate excitement
does moi abate. The great sale AT
! Western Nashville resulted satisfactorily
with heavy purchases by eastern investors
and prices are sustained with great conf
dcnce at Omaha and other western points
by more favorable crop prospects. The
coffee market, after week of advancing
prices, declined sharply yesterday morn
ing. Wheat gained a little during the
week, and the collapse of the clique is by
many apprehended. Hogs and pork pro-
ducts, with cattle, were shade lower,
and sugar. cotton and oil, little stronger.
No definite improvement appears in the
market for WOODEN goods, and the great
auction sale Of haunelS causes hesitation,
hut the market for cotton is healthy and
strong.
The business failures during the last
seven days number for the United State
l53, for Canada ~, total of l75, against
l,0 last week, aud Isl for. the correspond
! ing eek of last year.